The Postal Department’s Nagad mobile financial service won the “Mastercard Excellence Award 2022” for its digital innovation in Bangladesh’s financial industry.

According to a press release, Nagad won its second online award for its outstanding merchant business contributions.

Mastercard recently held the “Mastercard Excellence Award 2022” ceremony in Dhaka’s five-star hotel under the theme “Towards a Smart Transformation.”

Mastercard said this award goes to financial institutions who support smart Bangladesh vision.

In its fourth year, Mastercard recognized 23 organizations in 15 categories. Nagad was one of several multiple winners for its 2021-22 financial year performance.

In one category, Nagad has won the recognition of Excellence in Digital Innovation 2021-22 for Mastercard bill payment. Nagad has got recognition in the Excellence in Mastercard Business (Merchant) online 2021-22 category.

Commercial Minister Tipu Munshi was the chief guest at the award ceremony, while Bangladesh Bank Executive Director Md Khurshid Alam was the guest of honour. Mastercard South Asia Chief Operating Officer Bikash Verma and Bangladesh Country Manager Syed Mohammad Kamal were present.

Bikash Vetma said they are pleased to recognize organizations that develop new digital payment solutions and help Bangladesh flourish.

Nagad Founder and Managing Director Tanvir A. Mishuk said the Mastercard awards have added a new feather to Nagad’s efforts to bring the unbanked into the financial system.

Nagad has won Best Innovation Digital Financial Service Award for first KYC Innovation in Bangladesh, Inclusive Fintech Fifty Award, Best Digital Financial Service Provider Award, WITSA Global Excellence Award, Digital Bangladesh Award, E-Commerce Mover Award, Best Marketing Communication Award, and others.

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